الأداء الخيرى للشركات و أثره على الأداء المالى من المنظور الديناميكي لقدرة الشركة : دراسة تطبيقية على الشركات المقيدة بالبورصة المصرية

Abstract EN

This study aims to investigate the impact of corporate philanthropic performance (CPHIL) on its financial performance (CFP) during the different stages of the company's life cycle, applying to the companies listed on the EGX 100 index during the period from 2014 to 2019.

Given that the ability of companies to devote part of their resources to (CPHIL) varies according to their life cycle stage (Development Stage Vs.

Maturity Stage), this in turn is expected to affect the financial performance of these companies.

Results reveal that there is a significant positive relationship between (CPHIL) and (CFP) when testing the relationship without taking into consideration the potential impact of the company capability life cycle variable (CCLC).

However, when re-analyzing the relationship under the potential impact of the (CCLC) variable using the Panel Threshold Modeling method, through which companies were classified according to their life cycle stages, the results show a difference in the relationship between (CPHIL) and (CFP) during the different stages (the relationship changes from significant negative in the development stage to significant positive in the maturity stage).

Consequently, the results prove a significant negative impact of the (CCLC) on the relationship between (CPHIL) and (CFP) during the development stage, and a significant positive impact of the (CCLC) on the relationship between (CPHIL) and (CFP) during the development stage.

The results of additional testing using the Receiver Operator Characteristics (ROC) curve analysis method confirmed the validity and accuracy of the results obtained using the Threshold Regression Model.

Accordingly, the study reveals the success of the dynamic perspective of the corporate capability life cycle in interpreting the relationship between (CPHIL) and (CFP) in a more profound way in the Egyptian environment.

This requires considering the (CCLC) when employing the philanthropic spending mechanism by companies, to be in a way that is beneficial to the society without harming their financial performance.

This is important for the success of the efforts aiming to support the growth of the Egyptian capital market and to encourage investment in its listed companies, along with improved contribution of companies in the development of the society.